Tennessee Renters Insurance – Nationwide (2024)

FAQs

What is the average cost of renters insurance in TN? ›

The average cost of renters insurance in Tennessee is $239 per year, or $20 per month.

Is renters insurance required in Tennessee? No, there is no federal law that requires tenants to carry renters insurance; however, some landlords may require proof of renters insurance as part of the lease agreement.

While all insurance products offered through Lemonade are trustworthy and reputable, the company's renter's insurance has the best ratings across Lemonade products.

Renters insurance is relatively inexpensive. According to NerdWallet, the average renters policy costs about $15 per month for up to $30,000 in personal property coverage. That's solid coverage for less than the cost of a few cups of coffee a week.

Lemonade, Toggle and Liberty Mutual represent some of the best renters insurance in Tennessee, offering plans that cover the state's most common claims.

Your personal property, personal liability, additional living expenses, and guest medical expenses are usually covered under your renters insurance. It typically does not cover earthquakes, floods, bedbugs, mold, or damage to the exterior of the building.

The average monthly insurance cost of a USAA renters policy is $14.33, or $172 a year. That's lower than the national average costs of $180 a year and $15 per month. According to USAA, some members can get renters insurance coverage for as little as $10 per month.

The required minimum limits of your liability car insurance are: $25,000 for each injury or death per accident. $50,000 for total injuries or deaths per accident. $25,000 for property damage per accident.

What is the most expensive state for renters? ›

The U.S. state with the highest average monthly rent: Hawaii

Hawaii ranked as the state with the highest average rent, according to doxo. In a separate 2023 doxo report, Hawaii was also determined to be the most expensive U.S. state based on the average cost of household bills.

Additional insured: List the landlord or property owner as additional insured to ensure that they are notified if the policy changes, is canceled, or lapses.

The Lemonade app with its AI technology allows for fast claims processing, but it does require users to submit a video when filing a claim, which may be a downside for homeowners who'd prefer not to submit a video of themselves.

How is Lemonade insurance so cheap? Lemonade claims to offer car insurance policies for as low as $30 a month. The company collects location-based data and your safety score to price your premium, and it leans on artificial intelligence to handle and pay out claims.

We created Lemonade as a purpose-built, technology-first, vertically-integrated and legacy-free insurance carrier. Insurance brands are some of the least loved and least trusted, and we came to understand that the cause is structural: every dollar your insurer pays you is a dollar less for their profits.

Insurance is all about risk, so customers that live in areas with higher risks of claims usually have to pay more for coverage. Some location-based factors that impact renters insurance rates can include: The rate of crimes, especially theft, in your ZIP code.

Cite typical costs for Renter's Insurance (as low as $12 a month and typically $20-$30 a month) and ways to lower cost.

Tennessee's average annual home insurance premium is $2,578, costing $155 more than the national average. The average cost of homeowners insurance in Tennessee in 2024 is $2,578. This figure is $155 more than the national average of $2,423.